Job Description:
About Us
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
and the operating company for India operations of Global Business Services.
Process Overview*
Global Markets Business Finance & Control (BF&C) is a division of Global Banking & Markets (GBAM) Finance responsible for the production and independent validation of Global Markets' profit and loss and balance sheet. In this regard, BF&C will ensure, inter alia, that accounting policies are correctly and consistently applied, and that trading portfolios are appropriately valued.
The team prepares and reports P&L and balance sheet to the business and ensures the accuracy and integrity of the general ledger. We are responsible for daily service delivery and ensuring effective controls, transparent management information and becoming a center of excellence delivering process simplification and efficiencies. We work closely with front office, middle office, traders and valuation control teams to drive the control agenda across the business.
Job Description*
Global Markets Business Finance & Control (BF&C) seeks to provide a first-class support service with particular focus on the relationship between trading risk positions and P&L components. We are looking to recruit an individual to work in the Financial Control and Financial Management function covering the Global Commodities trading desks. The candidate’s main responsibility will be to produce and deliver the daily P&L and Balance Sheet to front office, providing a high standard of analysis and explanation around any issues faced and daily revenue drivers. The candidate will therefore have considerable interaction with the respective Front Office, Middle Office, and Finance and Trade Capture teams so good communication and time management skills are an essential requirement for this job.
Primary products covered will include: Futures, Forwards, Options, Swaps (Commodities Underlying)
Responsibilities
- Contribute on the overall Commodities portfolio and deliveries.
- Reconcile actual P&L with trader estimates and provide flash/actual variance analysis.
- Working closely with the trading desks on position, P&L or other issues on an ad-hoc basis.
- Front-to-Back analysis & reconciliations of front office p&l and balance sheet to firm sub-ledgers,
- Assist with execution of month-end controls ensuring management vs financial P&L variances are within thresholds
- Analyze traders’ risk positions and understand and apply the Greeks (Delta, Vega Gamma) vs daily market moves.
- Liaise with various business partners such as Technology, Market Risk, Credit Risk, Operations and Finance to resolve issues / queries.
- Development & continuous improvement of existing processes & workflow.
- Testing / UAT for systems work ranging from minor system releases to major system implementations.
- Remediation of issues in an autonomous yet timely manner considering the principles of control and the need to mitigate operational risk.
Requirements
Education
Qualified Chartered Accountant/CPA /CFA / MBA/ B. Tech from Tier I/II institute with at least 6 yrs. Experience in Investment Banking Valuation/ Product Control function, preferably with experience in Commodities.
Certifications If Any
- Advanced education and/or enhanced technical qualifications are a plus
- Ability to use Access or VBA would enhance the candidate’s attractiveness significantly
Experience Range
5 to 6 years with at least 4 years’ experience in Global Markets Product Control role.
Foundational skills*
- Understanding of the Commodities markets and products
- Understanding of the PnL Attribution and Accounting of the Commodities products
- Global Markets experience in Finance
- Experience in dealing with pricing models, Trading systems, Ledgers and Sub-ledgers.
- Control focused, analytical, team oriented, comfortable with complex products
- Strong financial analytics experience
- Excellent organizational, communication, and relationship management skills
- Demonstrated ability to work in a high pressure environment
- Proficiency in MS Office Suite; expert knowledge of Excel, Word, PowerPoint. Knowledge of Visual Basic, Access databases and macros will be an added advantage.
- Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels
- Must be proactive and be a highly-motivated self-starter. Reactive and/or passive individuals need not apply
Desired skills
- Effective communication skills with English proficiency
- Advanced experience/skills with Excel and complex spreadsheets
- Able to work both independently and as team member
- Strong problem solving and analytical abilities (Excel/Essbase)
- Insight / Oracle / E ledger or equivalent experience preferred
- Takes initiative and challenges existing processes and procedures in a proactive manner
- Ability to analyze issues independently and derive solutions
Work Timings*
12:30 PM IST to 21:30 PM IST
Job Location*
Mumbai
